How much money can I take out in a second mortgage?
Our minimum loan amount is $20,000, the maximum loan amount is determined by the available equity in your real estate asset.
What are the requirements of a second mortgage?
Any business owner with a registered ABN or ACN can apply for a second mortgage. The purpose of the funds must be for business use and you need sufficient equity in real estate assets to qualify.
What are the terms and payback period for a second mortgage?
Loan terms range from 1 month to 12 months. Interest and fees can be capitalised or you can select a 12 month interest only option.
Do I have to get my second mortgage from the same place as my first mortgage?
No, we can provide a second mortgage behind any bank lender.
Can I get a second mortgage with bad credit?
Yes, credit history is not relevant to our funding, however in some cases we may require any court judgments to be repaid from the loan proceeds.
Is it better to refinance or take out a second mortgage?
We are not able to provide financial advice and would recommend speaking with a financial planner or accountant.
Can I refinance a second mortgage?
Yes, an existing second mortgage can be refinanced with our loan product.
What information will I need to provide when applying for First Mortgage?
After completing our online application we will need a copy of your ID and a rates notice.
What are the qualification requirements for a first mortgage?
All you need is sufficient equity in real estate and require the funds for business use.
How Do I Apply for a First Mortgage Loan?
Click on any of the apply online buttons on our website, or fo to https://www.shorttermcaveatloans.com.au/